Silver Price Analysis – Silver Continues to See Overhang of Pressures

Silver Technical Analysis

The silver market has shown itself to be rather negative as we have been following the 10-year yield specifically in America and as it rises silver drops.

With bonds offering a rate of return non-yielding assets such as silver and gold will suffer at the hands of those outflows heading towards guaranteed returns. Keep in mind that we are now back below the $70 level and that, of course, is a negative sign with the 200-day EMA sitting below there, offering a juicy target at $62.31. However, it will take time.

Technical Levels and Market Volatility

If we rally from here, I still think you have to be skeptical. We even started to see silver sell off a bit late in the session on Wednesday, as we got wind of the rate market just not giving up. This is a continual problem for metals, and I think the biggest hurdle at the moment.

With that, I believe you have a scenario where traders continue to look at this as a “fade the rally” situation. So, the market is one that I think is going to remain very noisy and one that you have to be very nimble in. Short-term trading is about all you can expect at the moment.

I would not be too big with my positions, but I think silver has a lot of issues right now. I think a lot of things have a lot of issues until we get past the war. Once the war is dead and gone, then silver probably perks back up.

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